The Singapore based token platform, was initially open only to the ICO and whitelist participants and in an effort to expand the token’s reach, it announced (on 19th march 2018) the opening of its doors to the public through a release of its public beta and they are loving it.
Limiting access to the platform at its initial stage was important for the Kyber Network’s team as it has enabled them to make a number of improvements within a controlled environment. As a system in its beta stage, the platform is still in development and users can continually give feedback to facilitate identification and improvements on issues that may arise.
In an effort to push for the adoption of the token, the Kyber Network (KNC) has also embarked on a joint marketing campaign, in collaboration with imToken (a leading wallet provider) for a 30 day period commencing March 21st. The campaign will involve incentives such as free tokens for new members signing up to the platform, rewards to top traders among others. There are also rewards for those that remain consistent in the use of the platform and those that initiate transactions of high value, something that is aimed at encouraging consumers to stay and keep their accounts active on the platform.
im Token released imToken 2.0 powered by Kyber Network which adds more features to the platform making it the most flexible exchange platform in the world. Users on imToken exchange will be able to enjoy quick token trades as it removes the need for them to send their coins to other exchanges in order to purchase other types of cryptocurrency assets.
Kyber Network (KNC) token is currently ranked 71st on Coinmarketcap rankings with over 134 million units in circulation and a market capitalization of 190 million USD +. Currently trading at 1.42 USD, KNC tokens worth 157 million have been traded this month making it the 117th most traded cryptocurrency for the same period.
Since its initial offering in mid-September 2017 at a price of 0.38 USD, it has grown 273% against the dollar, 52% against Ethereum and 41% against bitcoin to trade at its current price. KNC was built on the ethereum blockchain as an ERC-20 token which allows developers to forecast the impact of new tokens within the platform with accuracy. The ethereum platform is designed to be compatible with new tokens, adhering to the ERC-20 regulations, introduced into the blockchain.
To purchase KNC tokens, an investor is first required to have an electronic wallet that supports coins on the Ethereum blockchain. myetherwallet is the easiest and most convenient wallet for this. Once in the wallet, the investor requires to create a new wallet and download the keystore file after which a private key will be sent to them and they can now save the address to which their tokens will be sent once purchased.
They will then need to open the wallet created, upload the keystore file received when creating the wallet and provide enter the password. The next step would be to purchase ethereum units which can then be exchanged for KNC tokens through a crypto exchange platform of their choice among the list of exchanges accessible through the wallet.